Innovation and Commercialization

INNOVATION AND
COMMERCIALIZATION

TABLE OF CONTENT
• Introduction
• Background of essence drinks
• Problem
• Commercial funnel
• Stages of commercial funnel
• Importance of commercial funnel
• Risk assessment
• Value creation through frugal creation
• Summary of new product
• Techniques for testing effectiveness of new
products of essence drinks
• Resources required for innovation
• Intellectual property rights
• Tools to protect IPR
• Conclusion
• References

INTRODUCTION
• The business case represents the essence drinks
background with the importance of commercial
funnel to find out solutions to introduce new product
in the UK.
• A brief summary of new product with techniques for
testing effectiveness of new product.
• Along with the description of the resources required
for market research and product development.
• At the end tools to protect intellectual property
rights are been highlighted.

BACKGROUND OF ESSENCE DRINKS
• Essence Drinks was founded by Mr. Akshay Kumar two years ago.
• He launched Essence Drinks with a mango lassi drink as a product into the
market of UK.
• The company with its distribution capability and introduction of
innovative formula of lassi drink achieve significant sale rise in initial first
year.
• But the company faces the rapid decrease in sales in its third year because
of the rise in competition in UK.